- Ethereum ETF approval may open the floodgates to assets like Solana and XRP that may receive approval for ETFs in 2025.
- Standard Chartered analysts say that cryptocurrencies like Solana and XRP will not be classified as securities.
- SOL wiped out nearly 6% value on Friday, while XRP price is nearly unchanged on the day.
Ethereum Exchange Traded Fund (ETF) approval news has renewed optimism on Solana and XRP ETFs approval in 2025. Analysts at Standard Chartered believe more cryptocurrency ETFs may be approved next year, and these assets will not be classified as securities.
Adrian Zduńczyk’s Birb Nest calls market participants to “unleash a full-blown meme mania on Solana.”
Solana and XRP ETFs could be approved next
As market participants celebrate the approval of Ethereum ETFs, analysts turn their attention to the next asset that could see an Exchange Traded Fund (ETF) launch. An analyst behind the handle @CryptoKaleo said in a recent tweet, that the next three likely coins in line for ETF discussions are Solana (SOL), Avalanche (AVAX) and Dogecoin (DOGE).
Three next likely coins I see in line for ETF discussions:
— K A L E O (@CryptoKaleo) May 23, 2024
- SOL
- AVAX
- DOGE
Analyst at Standard Chartered Geoffrey Kendrick said that SOL and XRP ETFs may be approved in 2025. Kendrick believes that the approval of the ETH ETF means that Ether and similar cryptocurrencies (other altcoins) will not be classified as securities.
Analysts at The Birb Nest note that the Solana ETF narrative is being discussed on crypto Twitter and by the media, and “this will probably happen.” Analysts say that the market definitely needs more time to introduce a legitimate crypto regulatory framework. While regulation may take time, analysts call market participants to “unleash a full-blown meme mania” on Solana.
They will try to push the narrative that $SOL is another ETF.
— THE ₿IRB NEST (@TheBirbNest) May 24, 2024
This will probably happen, but they definitely need more time and they need to introduce a legitimate #crypto regulatory framework.
It will take time, but before they do that in the meantime we can unleash a… https://t.co/kHDZ1SMTwx
In the ongoing cycle, Solana meme coins have consistently posted gains, positioning themselves nearly at par with large market capitalization meme tokens like Dogecoin (DOGE) and Shiba Inu (SHIB).
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